Considering that the US Supreme Court is due to legislate online sports betting later this year, DraftKings is poised to take advantage of the coming court ruling to expand its businesses within and beyond New Jersey.
The fantasy sports company has begun to liase with several New Jersey casinos to determine partnership courses to take when sports betting becomes legal in all US states.
The only US state where sports betting is currently allowed is Nevada. A federal 1992 Professional and Amateur Sports Protection Act (PASPA) makes it illegal for every other US state to operate regulated sports betting services. According to PASPA, government entities are not allowed to sponsor, operate, advertise, promote, license or authorize betting programs on games played by amateur or professional athletes.
But the state of New Jersey is currently leading others to challenge this prohibition at the courts, and the Supreme Court will be handing down its decision over the case towards the end of this year.
In readiness for a positive Supreme Court decision legalizing sports betting in most US states, DraftKings co-founder and CEO Jason Robins looks forward to expanding his sports betting business in New Jersey and beyond.
He stated that legalizing sports betting across the entire country would offer “enormous” development opportunities for DraftKings and other gambling operators across the US.
To underscore their readiness for business when the Supreme Court legalizes sports betting in the US, spokesman James Chisholm revealed that DraftKings is “perfectly positioned to succeed in a legal sports betting market.” And to further drive this point home, the DraftKing appointed Sean Hurley as the head of sportsbook, a newly created position within the company.
DraftKings disclosed to Associated Press that it has around 10 million customers. But the betting company revealed that it is focusing on its Daily Fantasy Sports (DFS), which is its core offering, at the moment.
“It’s not like [sports betting] is a new activity that all of a sudden is going to be there,” Robins told the media.
“It already exists; it’s just happening on the black market now.”
Many other potential sports betting operators are waiting with bated breath that the US Supreme Court will rule in favor of states so that the national sports betting market can be expanded beyond what currently happens in Nevada alone.